Adani effect? PSU bank stocks fall up to 7%; SBI, PNB, BoB lead
Indian banks and NBFCs have given over ₹88,000 cr in loans to the Adani Group, with three big PSBs (SBI, PNB, Bank of Baroda) having exposure of nearly ₹40,000 cr.
Indian banks and NBFCs have given over ₹88,000 cr in loans to the Adani Group, with three big PSBs (SBI, PNB, Bank of Baroda) having exposure of nearly ₹40,000 cr.
The cumulative m-cap of the Adani group stocks dropped by ₹1.86 lakh crore to ₹12.42 lakh crore from ₹14.28 lakh crore at the end of trade on Wednesday.
The cumulative market capitalisation of 10 Adani Group stocks dropped by up to ₹55,000 crore to ₹16.5 lakh crore.
BHEL has secured two orders worth ₹7,000 crore from Adani Power to set up thermal power plants in Raipur and Mirzapur.
Sensex, Nifty fall as Adani Group stocks crash during early trends of Lok Sabha poll results
The infrastructure arm of Adani Group stock will replace Wipro from the Sensex-30 pack from June 24, 2024.
The Adani Group stock has zoomed over 3-fold from its low of ₹1,017.45 hit on February 3, 2023, in the aftermath of Hindenburg report.
Adani group stocks fell in the range of 2-8% amid a report that the U.S. government widened its probe against the conglomerate over suspicions of bribery.
All 10 Adani group stocks were trading in green on Monday, propelling the combined m-cap of the conglomerate to ₹15.5 lakh mark.
Adani Saur Urja and Adani Renewable Energy Holding Nine, subsidiaries of Adani Green Energy, have incorporated wholly-owned subsidiaries.